According to the report, NBCUniversal is close to extending its partnership with WWE to renew Raw for three times its current deal, which will generate $180 million for the promotion this year for both Raw and SmackDown Live. It is estimated that an exclusive deal to air Raw could be worth around $240 million per year, with SmackDown Live adding just around $110 million.

WWE is reportedly close to signing a major television-rights deal.

Credit: WWE.com

The deal would mark the biggest television rights fees in WWE history. The new contract would, however, see NBCUniversal pass on SmackDown Live, which has aired on USA Network since 2016. Still, the blue brand could experience a soft landing on another network, possibly Fox, that would place it at or near equal footing with the Monday night flagship.

UFC set the market earlier this month in a blockbuster five-year, $750 million deal with budding streaming service ESPN+ for exclusive rights to air Fight Night events. It now finds itself in a similar situation with WWE as it attempts to negotiate linear television rights with another network.

After serious flirtations with Fox, and interest from live streaming services such as Amazon Prime Video and Facebook Live, WWE opted to keep Raw on NBCUniversal and USA Network, where it has aired since 2005.

Though the USA Network will not move forward with SmackDown Live, the possibility of the program airing on Fox could represent a best-case scenario for WWE. Had Fox landed exclusive rights to all WWE programming, Raw would have likely aired on Fox with SmackDown Live relegated to the less heralded FS1, which is available in less than 85 million households — almost 10 million less than its current home on USA.

And while SmackDown Live-to-Fox is still pure speculation, the move would significantly upgrade WWE's B-Show to a network seen in 115 million homes. Such exposure would give SmackDown Live the potential to consistently defeat Raw in viewership for the first time since the original brand split in 2002.

The announcement marks yet another home run for WWE's business model, which remains stronger than ever. WWE's share price closed at $43.65 on Wednesday and has consistently exceeded record highs in anticipation for what will soon become a monster television deal.

WWE's Q1 2018 earnings report projected 2018 to be the biggest earnings year in company history, and with President Trump's new tax laws set to lower the corporate tax rate from 35 percent to 21 percent, the promotion will see sizable increases in profit.

WWE's business is set to thrive long after Vince McMahon cedes power.

Credit: WWE.com

In addition to its escalating television rights fees, WWE will also receive large payments from the Kingdom of Saudi Arabia as part of its controversial 10-year-deal to air live events in the region. JP Morgan estimates the deal could be worth $20 million in 2018 alone.

WWE's current financial hot streak has come in spite of its dwindling popularity at a mainstream level. Though viewership rebounded slightly in 2017, it's nowhere near the levels it was during its heyday from 1998 to 2001. Every wrestling enthusiast has the same sad story of a friend, co-worker or relative responding to their love of pro wrestling by saying something along the lines of "I used to watch WWF when I was little. Is that Shane Austin guy still wrestling?"

WWE did not elevate its television business through popularity among viewers, it did so by creating demand among competing television networks. With live sports becoming more coveted among networks looking to compete with streaming services, WWE found itself in a bidding war—one that was missing in 2014 when NBCUniversal signed on for a far more underwhelming television rights deal.

This time around, WWE did not stick its tail between its legs to accept a lowball deal from a longtime partner. Instead, it now stands to squeeze every dime it can out of NBCUniversal, which was desperate not to see them go.

Vince McMahon and WWE have enjoyed record highs in share price all year.

But the rise of President Donald Trump through cable news has created a landscape where Fox News and MSNBC have surpassed the USA Network, which now must use a qualifier as a "cable entertainment network" in order to hold on to its standing as No. 1 for dear life. USA's only hope of continuing to dominate basic cable entertainment, and at this point remain relevant in the discussion, are the three million-plus viewers who watch Raw every week.

In its latest negotiations, WWE's leverage had never been higher. As a result, neither has its television rights fees.

WWE is firmly positioned to prosper long after Vince McMahon has ceded his throne to heir-apparent Stephanie McMahon and her husband Paul "Triple H" Levesque. Though its creative direction will always be a point of contention between WWE and its surly and impassioned fanbase, its business is currently enjoying its peak years, which should sustain for years to come.